MADDEN SECURITIES Corp Lowers Stock Position in Pinnacle West Capital Co. (NYSE:PNW)

MADDEN SECURITIES Corp lessened its stake in Pinnacle West Capital Co. (NYSE:PNW) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,860 shares of the utilities provider’s stock after selling 875 shares during the period. MADDEN SECURITIES Corp’s holdings in Pinnacle West Capital were worth $1,599,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. YANKCOM Partnership purchased a new position in Pinnacle West Capital in the fourth quarter worth $29,000. Venturi Wealth Management LLC lifted its stake in Pinnacle West Capital by 124.6% during the third quarter. Venturi Wealth Management LLC now owns 429 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 238 shares during the last quarter. Brown Lisle Cummings Inc. purchased a new position in shares of Pinnacle West Capital in the 4th quarter worth about $38,000. Roble Belko & Company Inc bought a new position in shares of Pinnacle West Capital during the 4th quarter valued at about $42,000. Finally, Prospera Private Wealth LLC purchased a new position in shares of Pinnacle West Capital during the 3rd quarter valued at about $43,000. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Trading Up 0.9 %

NYSE PNW opened at $87.74 on Tuesday. The stock has a market cap of $9.98 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 3.47 and a beta of 0.57. Pinnacle West Capital Co. has a fifty-two week low of $66.26 and a fifty-two week high of $95.42. The stock has a 50 day simple moving average of $86.44 and a two-hundred day simple moving average of $87.74. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71.

Pinnacle West Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be issued a $0.895 dividend. This represents a $3.58 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend is Monday, February 3rd. Pinnacle West Capital’s dividend payout ratio (DPR) is currently 67.80%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wells Fargo & Company upped their target price on Pinnacle West Capital from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Barclays lowered shares of Pinnacle West Capital from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $93.00 to $91.00 in a report on Monday, November 18th. Citigroup boosted their price target on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective on the stock in a research note on Wednesday, December 4th. Finally, Morgan Stanley lowered their target price on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $85.21.

About Pinnacle West Capital

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.